Potlatch Corporation (PCH) Shares Sold by JPMorgan Chase & Co.
JPMorgan Chase & Co. lessened its stake in Potlatch Corporation (NASDAQ:PCH) by 1.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 558,092 shares of the real estate investment trust’s stock after selling 10,422 shares during the quarter. JPMorgan Chase & Co. owned 1.37% of Potlatch Corporation worth $25,506,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in PCH. LS Investment Advisors LLC boosted its holdings in shares of Potlatch Corporation by 18.2% in the second quarter. LS Investment Advisors LLC now owns 3,140 shares of the real estate investment trust’s stock valued at $143,000 after buying an additional 483 shares during the period. First City Capital Management Inc. bought a new stake in shares of Potlatch Corporation in the first quarter worth $206,000. ING Groep NV bought a new stake in shares of Potlatch Corporation in the second quarter worth $226,000. Confluence Investment Management LLC lifted its position in shares of Potlatch Corporation by 10.9% in the second quarter. Confluence Investment Management LLC now owns 5,128 shares of the real estate investment trust’s stock worth $234,000 after purchasing an additional 504 shares in the last quarter. Finally, Advantus Capital Management Inc lifted its position in shares of Potlatch Corporation by 3.1% in the first quarter. Advantus Capital Management Inc now owns 5,191 shares of the real estate investment trust’s stock worth $237,000 after purchasing an additional 156 shares in the last quarter. Institutional investors own 83.25% of the company’s stock.
Shares of Potlatch Corporation (PCH) opened at 49.00 on Wednesday. The company has a market cap of $1.99 billion, a price-to-earnings ratio of 24.25 and a beta of 1.41. The stock has a 50 day moving average of $46.96 and a 200-day moving average of $46.12. Potlatch Corporation has a 12 month low of $35.92 and a 12 month high of $49.35.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Thursday, September 14th. Potlatch Corporation’s payout ratio is currently 73.89%.
A number of brokerages have recently commented on PCH. UBS AG lowered shares of Potlatch Corporation from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 27th. BidaskClub raised shares of Potlatch Corporation from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. BMO Capital Markets reissued a “hold” rating and issued a $40.00 price objective on shares of Potlatch Corporation in a research report on Thursday, July 20th. Royal Bank Of Canada reissued a “hold” rating and issued a $47.00 price objective on shares of Potlatch Corporation in a research report on Monday, July 31st. Finally, Raymond James Financial, Inc. lowered shares of Potlatch Corporation from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 27th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. Potlatch Corporation currently has a consensus rating of “Hold” and a consensus target price of $45.80.
Potlatch Corporation Company Profile
Potlatch Corporation is a real estate investment trust (REIT), which is primarily engaged in activities associated with timberland management, including the sale of timber, management of timberlands, and purchase and sale of timberlands. The Company is also engaged in the manufacture and sale of wood products.
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